ISLAMABAD: The proposed National Tax Authority (NTA) - an automated tax agency would end corruption and maladministration within the Federal Board of Revenue (FBR).
The Senate Standing Committee on Finance and Revenue Wednesday received a comprehensive briefing from the Karakoram Initiative on the concept of ‘National Tax Authority’.
The presentation of Haroon Khawaja and Dr. Ikramul Haq was highly appreciated by the committee chairman and its members.
A comprehensive presentation was given to Senate Standing Committee on Finance and Revenue providing solutions for enhancing tax to GDP to 18% at federal level alone through administrative reforms centered NTA, an autonomous and automated tax agency to act as service provider.
The presentation prepared jointly by Haroon Khawaja and Dr. Ikramul Haq analysed the historical failure of Federal Board of Revenue(FBR) and how to replace it with a modern people friendly agency not only to raise revenues but also disburse social payments.
The structural base of the NTA comprises financial autonomy and powers to hire and fire as available to State Bank of Pakistan.
The appointment of Chairman of NTA and its board members will be under parliamentary oversight through open public hearing.
Copyright Business Recorder, 2024